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China Mengniu Dairy Co
(2319)
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Rating:60Neutral
Price Target:
HK$21.00
▲(12.30% Upside)
Action:Reiterated
Date:10/31/26
The score is primarily constrained by weakened financial performance (recent revenue decline and materially lower margins/ROE versus prior years), partially offset by resilient operating/free cash generation and a manageable, improving leverage profile. Technicals are a clear positive with the stock trading above key moving averages and positive momentum. Valuation is a headwind due to a high P/E, with only moderate support from the dividend yield.
Positive Factors
Scale and distribution
Mengniu’s broad portfolio and nationwide route to market support recurring consumer access across multiple dairy categories and channels. Scale in processing, branding, procurement and distribution can reinforce shelf presence, improve operating leverage, and support durable competitive positioning.
Negative Factors
Revenue contraction
Recent revenue contraction signals weaker demand, volume, pricing or product-mix momentum across the business. If the decline persists, lower scale utilization and reduced channel momentum could make it harder for Mengniu to spread fixed costs, defend market position and restore earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and distribution
Mengniu’s broad portfolio and nationwide route to market support recurring consumer access across multiple dairy categories and channels. Scale in processing, branding, procurement and distribution can reinforce shelf presence, improve operating leverage, and support durable competitive positioning.
Read all positive factors
China Mengniu Dairy Co (2319) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$76.72B
Dividend Yield3.01%
Average Volume (3M)12.81M
Price to Earnings (P/E)35.1
Beta (1Y)0.39
Revenue Growth3.48%
EPS GrowthN/A
CountryHK
Employees38,000
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.48
Shares Outstanding3,871,192,600
10 Day Avg. Volume16,020,616
30 Day Avg. Volume12,810,671
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.29
Price to Sales (P/S)0.64
P/FCF Ratio8.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$24.25Price Target Upside29.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
EPS Forecast (FY)1.24
Revenue Forecast (FY)HK$88.44B
China Mengniu Dairy Co Business Overview & Revenue Model
Company Description
China Mengniu Dairy Company Limited, an investment holding company, manufactures and distributes dairy products under the MENGNIU brand in the People’s Republic of China and internationally. It operates in five segments: Liquid Milk Business, Ice ...
How the Company Makes Money
Mengniu primarily makes money by manufacturing dairy products and selling them to customers through multiple channels, with revenue largely driven by product sales volume multiplied by average selling price, less trade promotions and channel rebat...
China Mengniu Dairy Co Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.85B | 82.24B | 88.67B | 98.62B | 92.59B | 88.14B |
| Gross Profit | 33.21B | 32.34B | 35.09B | 36.64B | 32.69B | 32.39B |
| EBITDA | 8.21B | 8.04B | 5.87B | 11.18B | 10.51B | 9.01B |
| Net Income | 1.84B | 1.55B | 104.51M | 4.81B | 5.30B | 5.03B |
Balance Sheet | ||||||
| Total Assets | 101.62B | 96.62B | 106.29B | 115.22B | 117.81B | 98.10B |
| Cash, Cash Equivalents and Short-Term Investments | 26.09B | 24.93B | 25.48B | 20.98B | 19.59B | 15.88B |
| Total Debt | 30.72B | 25.40B | 34.64B | 37.41B | 40.04B | 27.03B |
| Total Liabilities | 54.30B | 49.42B | 58.27B | 64.57B | 67.76B | 56.10B |
| Stockholders Equity | 40.65B | 40.54B | 41.56B | 44.32B | 40.10B | 36.83B |
Cash Flow | ||||||
| Free Cash Flow | 7.48B | 6.30B | 4.86B | 4.21B | 3.27B | 1.32B |
| Operating Cash Flow | 9.27B | 8.75B | 8.33B | 8.35B | 8.33B | 7.54B |
| Investing Cash Flow | -5.40B | 3.34B | -3.50B | -285.83M | -14.86B | -15.44B |
| Financing Cash Flow | -404.46M | -11.71B | -6.33B | -6.80B | 4.15B | 6.77B |
China Mengniu Dairy Co Technical Analysis
Positive
18.70
Price Trends
18.16
Negative
17.84
Positive
16.90
Positive
Market Momentum
0.08
Positive
49.12
Neutral
17.96
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2319, the sentiment is Positive. The current price of 18.7 is above the 20-day moving average (MA) of 18.15, above the 50-day MA of 18.16, and above the 200-day MA of 16.90, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 49.12 is Neutral, neither overbought nor oversold. The STOCH value of 17.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2319.
China Mengniu Dairy Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$6.21B | 23.63 | 9.30% | 2.85% | -3.39% | 20.09% | |
64 Neutral | HK$15.51B | 17.72 | 11.77% | 4.08% | 24.27% | ― | |
63 Neutral | HK$23.28B | 11.17 | 7.29% | 7.35% | -4.22% | -30.99% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | HK$76.72B | 35.11 | 4.53% | 3.01% | 3.48% | ― | |
60 Neutral | HK$71.31B | 12.78 | 33.44% | 3.83% | 3.53% | 17.26% | |
47 Neutral | HK$1.83B | -2.56 | -11.03% | 4.85% | -8.08% | -376.61% |
* Consumer Defensive Sector Average
HK:2319
China Mengniu Dairy Co
19.86
6.24
45.77%
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24.02
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110.65%
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12.65
2.83
28.78%
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6.15
-1.25
-16.95%
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1.03
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-0.88
-25.51%
China Mengniu Dairy Co Corporate Events
Mengniu Boosts Interim Profit as Sports Marketing and Product Mix Drive Growth
Aug 26, 2026
China Mengniu Dairy reported interim revenue of RMB44.79 billion for the six months ended 30 June 2026, up 7.8% year on year, driven by proactive product innovation, omni-channel expansion and stronger brand penetration. Operating profit rose to R...
China Mengniu Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 4, 2026
China Mengniu Dairy Company Limited has scheduled a board meeting for 26 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, which could ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.